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Earnings

The term "earnings" typically refers to (1) in the case of an individual, salary and other compensation for work performed, together with interest, dividends and other investment income and (2) in the case of companies, the profits, or net income, after the company has paid income taxes, salaries, interest, and other expenses.

 

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    Q: If you are out of the country and your tax return is due, how much time does the IRS allow a person that did not request an extension?

Word of the Day
   Write-Down

A "write-down" is the reduction of an asset's recorded value on a balance sheet.
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